Web3’s rise has opened the door to new business models, which could help shape the future of the internet. As the assets they interact with, nonfungible tokens (NFTs), will play an important role in the open universe. The decentralized autonomous organizations (DAOs), which allow for virtual community governance, are also being created.

Web3’s popularity has meant that DAOs as well as NFTs have been able to prosper. For example, recent data from DeepDAO — a DAO stats platform — ShowsOver the past year, DAOs experienced 130 times growth and reached a market capitalization in excess of $24.8 million. DeepDAO determined that in December 2021 the total assets under management for DAO Treasuries on the platform was $24.8 billion. Increased from $380 MillionThe peak was $16 billion, which reached its highest point in September at around $16 million in February. The popularity of nonfungible tokens is also increasing as more crypto-platforms, mainstream organizations and other entities continue to support NFT use cases.